Delhi records 23 per cent increase in tax collection
January, 19th 2012
Delhi has recorded a 23 per cent increase in tax collection in the first three quarters of this fiscal, collecting Rs 14,511 crore till December last year against a target of Rs 20,246 crore.
Riding on an increase in collection of tax on vehicles, stamp and registration fees, excise and VAT, the city government has collected 72 per cent of the target in the first three fiscals.
"There has been a growth of 23 per cent during the first nine months of the current year as compared to corresponding period of the last financial year despite the economic slowdown," Chief Minister Sheila Dikshit said today.
The total tax receipts between April and December last has been Rs 14,511 crore compared to Rs11,822 crore collected during the corresponding period in the previous year.
"Delhi is all-set to achieve tax collection target of Rs.20,246 crore as mentioned in the current year's budget. About 72 per cent of the tax collection target has been achieved upto December, 2011. This highlights an important reason for the sound financial position of the Government is its buoyant tax collection and efficient tax administration," Dikshit said.
The hightest growth in tax collection was witnessed in vehicle tax registering a 61 per cent increase following by stamps and registration fee (42 per cent), state excise (26 per cent) and VAT collection (18 per cent).
The target of taxes on motor vehicle was Rs 800 crore and an amount of Rs 795 crore has already been collected. This is 99 per cent of the target, which is a growth of 61 per cent.
While Rs 2300 crore has been set as a target from stamps and registration fee, Rs1619 crore has already been realized, showing a growth of 42 per cent over the corresponding period of the previous year. Similarly, the target for state excise was Rs 2,300 crore, an amount of Rs.1748 crore, has been collected.
VAT, a major source of revenue having a contribution of about 72 per cent in the total tax receipts, recorded a growth of 18 per cent during April-December, 2011. The target of VAT was kept at Rs 14,500 crore this fiscal. Already Rs 10,084 crore, has been collected during the first nine months.
The current year's target of luxury tax was Rs 280 crore, an amount of Rs 197 crore has been collected till December, 2011.